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Fixed Deposit Plus
Are you looking for a safe investment option with a higher rate of return for your lump sum savings? Axis Bank’s Fixed Deposit Plus gives you a higher rate of return compared to regular FDs and the option is available to all NRI and domestic customers. The interest rate is available on a simple or compounding basis for a minimum amount of Rs. 3,00,00,000.
Features and Benefits
Invest high amounts of money
Minimum deposit of Rs 3,00,00,000 with no maximum limit on deposits, available for retail and corporate customers.
Customise your investment tenure
Pick a convenient tenure between 7 days to 10 years. Auto-renewal facility is not available for Fixed Deposit Plus.
Choose your method of interest calculation
Pick between simple interest and compound interest options.
Decide between single or joint holder Type Deposits
- Single holder type deposit receipt can be issued to an individual for himself, or in the capacity of the Karta of the Hindu Undivided Family.
Method of calculation of interest rates on your Fixed Deposits
- For Fixed Deposits with tenure of 6 months and above, interest is calculated on a quarterly basis.
Stay compliant with prevalent tax laws
Tax at source is deducted as per the Income Tax regulations prevalent from time to time. TDS in respect of interest earned on fixed deposits, is deducted on the basis of the total interest projected on the aggregate of fixed deposits of the customer, for the financial year. If the total projected interest in a financial year crosses the TDS Threashold limit INR 40,000/- (INR 50,000/- for Senior Citizen) in a financial year., TDS is deducted proportionately from the existing fixed deposits at the time of interest application. This is in accordance with Section 194 A 3 (i) (a) of the Income Tax Act.
Withdraw from Term Deposits easily
In case of Term Deposit held jointly, submit a declaration signed by all the holders. This is required in the unfortunate event of death of one of the holders, to enable Axis Bank to pay the maturity proceeds prematurely to the survivor.
Decide between single or joint holder Type Deposits
Pick your deposit type
Method of calculation of interest rates on your Fixed Deposits
Eligibility
Documents
For latest list of documentation as per the KYC requirements, please visit nearest Axis Bank Branch for more details.
Interest Rates and Charges
You can opt for simple or compound interest for Fixed Deposit Plus.
The FD Plus interest rate earned every quarter is added to your principle amount and further interest is
calculated on this combined amount.For Fixed Deposit interest
rate on Domestic - Fixed Deposits Plus and NRI - Fixed Deposits Plus
How to Apply
Our calculator enables you to calculate the Monthly Average Balance (MAB) required to be maintained in your savings account based on inputs provided by you.
Step 1
Login to Internet Banking and select the deposit option. Click here For login Internet Banking to login.
Step 2
Click on Create Recurring Deposit
Step 3
Fill in the required account and nominee details
Step 4
On confirmation, the selected amount will be debited from your savings account and your Recurring Deposit will be created instantly. You will get a web receipt of the Recurring Deposit booked instantly. The value date for opening of the deposit and the rate applicable will be as per the date of request i.e. the day on which the savings account is debited.
Step 5
Post creation, the Recurring Deposit Advice will be mailed to your registered e-mail ID if you are registered for an e-statement and if not registered for e-statements, physical advice will be dispatched to your communication address. You will be able to also view the Recurring Deposit advice in Internet Banking after one working day of deposit booking.
Important Links
Axis Bank’s Recurring Deposit (RD) calculate
Fixed deposit calculator will help you calculate how much rate of interest you can earn by investing in a Fixed Deposit for a fixed tenure. Simply provide the following information, and you can easily calculate FD interests. Lorem, ipsum dolor sit amet consectetur adipisicing elit. Saepe, voluptatum?
₹
5K
1.99Cr
- Days
Rate of Interest*7.10%
Date of Fixed Deposit31 Jan 2024
Maturity Date31 July 2025
Maturity Value
3050
Frequently Asked Questions
Starting 01 April 2022, the minimum balance in your Axis Bank Easy Access Savings Account should be ₹12,000 for metro and urban locations, ₹5,000 for Semi Urban and ₹2,500 for Rural.
Starting 01 April 2022, the minimum balance in your Axis Bank Easy Access Savings Account should be ₹12,000 for metro and urban locations, ₹5,000 for Semi Urban and ₹2,500 for Rural.
While there is an initial deposit requirement and a monthly average balance limit on your Axis Bank savings account, there is no upper limit on how much you can deposit to your account.
The interest rates as per the existing norms and regulations are calculated on the daily account balance, and the cumulative interest earned on balance is paid out to the easy access savings account on a quarterly basis. For latest interest rates, please click here.
The interest on an easy access savings account is earned on the daily account balance and is paid out on a quarterly basis.
The Average Monthly Balance of an easy access savings account is calculated by taking the daily closing balance in the account for a given month. The average is then divided by the total number of days in the month. The formula for the same is: Average Monthly Balance = (Sum of all daily closing balances) / (No. of days in a month)
The Axis Bank Easy Access Savings Account allows you to maintain a monthly average balance requirement of ₹ 12,000 if you are carrying out online banking from a metro city. The minimum opening deposit in your account will be ₹ 16,000.
With an easy access savings account, you can easily make your payments for your utility bills online, access your funds from anywhere and at any time and enjoy a number of value-added benefits, services and discounts on your online purchases. An easy access savings account saves you from the hassle of handling cash payments.
To deposit money into your easy access savings account, you can fill in the deposit slip with details like your name, account number, date, and amount of money to be deposited and submit it to your bank. Once account is opened you can credit your account via Online mode of payments as well.
The interest earned on your account balance is credited to your easy access savings account on a quarterly basis.
You can receive your easy access savings account statement on a monthly basis. You can choose to receive the e-statement of your account or opt for the physical statements.
In a few easy steps, you can complete the video KYC (Know Your Customer) verification of your Axis Bank Easy Access Savings Account:
- You will need your PAN card and Aadhar card for verification.
- Fill in your personal details on the online form.
- Update your account with initial funding of ₹ 16,000.
- Get your KYC verified on a video call from our officials.
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